Democrats are scared of Trump.

Tsing Tao said:
Right from the Slate article that Piezoe posted, there's a good example:

Sure, you can go online and see every asset on the Fed’s balance sheet, including its serial tracking number. But, Paul says, that doesn’t tell readers “who they bought them from or whether they were bought at fair market price or whether they were bought at a haircut and whether or not there were any conflicts of interests in the buying and selling.”​

Additionally, I'd like to know why the Fed fought so hard and for so long to release the names of banks that borrowed from the discount window during the crisis, and why - when they finally were ordered by the court to turn over the info - they still held back information.

Further, I'd like to know why the Fed continues to ignore investigations into leaks of information, and why anyone who asks a question on it (like good ol' Pedro) gets dismissed.

These are just some examples. It's a shadowy organization that hides information under the pretense that "it's fully transparent and everything is there for you to see" yet fights tooth and nail to keep things hidden on request. If there were nothing to hide, why all the fighting to do so?

To pretend that the Fed is independent in it's monetary policy setting is downright hilarious. Banks "advise" the Fed what to do, and it does it. End of story. The Fed has never (that I can recall) done something against the bank's "recommendation". Perhaps back in Volcker's day.
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Good questions I'll admit. Going rope-a-dope on that.
 
Ricter said:
Good questions I'll admit. Going rope-a-dope on that.
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Don't mistake me as one of those guys who believes, for example, that the Fed's stash of gold is actually gold covered tungsten and all the reserves have vanished, or some other weird "conspiwacy" theory. I just want to understand why the nature of some of the assets are so secret, and why the Fed fights to keep them from the light of day.

Remember Alan Greyson? Democrat from Florida. Used to give all sorts of hell to the Fed - and did some investigative work on them. So it's not just a conservative thing. Bernie has also made comments about the secrecy around the Fed and it's involvement with banks.
 
Here's a good Grayson moment, grills Bernanke on swaps with other central banks. Now, I understand the why behind what the Fed does. What I don't get is where in the Fed's charter from Congress that this is empowered. Lending to other central banks? What?

 
Here's a funny one where Grayson talks about how the Fed bought Red Roof Inns during the crisis. Hilarious.

His commentary on Audit the Fed rather interesting in this, too.

 
he caught bernanke conjuring things out of thin air in the end right at the end.


Tsing Tao said:
Here's a good Grayson moment, grills Bernanke on swaps with other central banks. Now, I understand the why behind what the Fed does. What I don't get is where in the Fed's charter from Congress that this is empowered. Lending to other central banks? What?

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